Xryma Plc Appoints Constantinos Petrides as Independent Non-Executive Chairman
Former Minister of Finance of the Republic of Cyprus to chair the Board, subject to regulatory approval
NICOSIA, Cyprus, Nov. 9, 2026 /PRNewswire/ -- Xryma Plc ("Xryma", "Company"), a regulated banktech group providing cross-border open banking, international transactional banking and real-time EU and UK payment services, is pleased to announce that Mr. Constantinos Petrides has been nominated as an Independent Non-Executive Director and Chairman of the Board of Directors, subject to appointment following non-objection from the Central Bank of Cyprus.
The appointment follows the resignation of Mr. Christakis Taoushanis as Non-Executive Director and Chairman, effective 30 September 2026, and forms part of the renewal process of the Board's independent membership, in line with the Central Bank of Cyprus's 2026 Directive on the Internal Organisation and Governance for Electronic Money Institutions.
Mr. Petrides brings to the Board direct experience of European financial policy, corporate governance and public finance. His appointment comes as the Company continues to strengthen its position and expand its role in core payment infrastructure: Xryma is one of the first non-bank direct participants in the Eurosystem's T2 real-time gross settlement system, settling in central bank money, alongside direct access to SEPA Instant and UK Faster Payments. Xryma's subsidiary, ISX Financial UK Ltd is preparing to go live with Faster Payments Services in the UK, with a settlement account at the Bank of England.
Mr. Petrides served in the Cypriot cabinet for 10 years, including as Minister of Finance of the Republic of Cyprus from 2019 to 2023, and previously as Minister of the Interior and as Deputy Minister to the President. He has also served on the boards of listed companies and other businesses including in the financial services sector. His full biography is set out below.
Nikogiannis Karantzis, Group Managing Director and Chief Executive Officer of Xryma Plc, said:
"Payments are moving to real-time settlement in central bank money, and the governance expected of the institutions operating that infrastructure is rising accordingly. Direct access to the rails brings direct accountability. Constantinos has worked at the centre of European financial policy, as a member of the Eurogroup and a Governor of the European Stability Mechanism, amongst others. That combination of policy depth, banking experience and listed-company governance is what our Board requires as we scale regulated, cross-border financial infrastructure. His appointment reflects a principle we have held from the outset: regulatory rigour is a structural advantage, not an obligation to be managed."
Constantinos Petrides, Independent Non-Executive Chairman of Xryma Plc, said:
"Xryma holds a position few European non-bank payment institutions share: direct participation in central bank settlement, on technology it has built and owns. That position carries a particular responsibility for governance. I share the Board's and management's vision for the Company's future and look forward to working together to ensure the Company's growth continues to reflect both the strength of its controls and the confidence of its regulators, customers and investors."
About Constantinos Petrides
Constantinos Petrides is an economist and former Minister of Finance of the Republic of Cyprus. During his tenure from December 2019 to February 2023, he was a member of the Eurogroup and ECOFIN Council and a Governor of the European Stability Mechanism. Amongst others, he oversaw Cyprus's fiscal response to the COVID-19 pandemic and the preparation of its national Recovery and Resilience Plan.
Mr. Petrides previously served as Minister of the Interior from 2017 to 2019, and as Deputy Minister to the President from 2013 to 2017. As Deputy Minister to the President he held a coordinating role in Cyprus's economic adjustment programme.
He began his career in 2000 at the Association of Cyprus Banks, representing it at the European Banking Federation and on the National Euro Changeover Committee. From 2006 to 2011 he was an economist at the European Commission. Following his departure from public office in 2023, he has held non-executive board and committee positions in listed companies and other businesses, including in the financial services sector.
He holds a BA (Hons) in Economics with European Union Studies from the University of Nottingham and an MSc in Political Economy of Transition in Europe from the London School of Economics.
About Xryma Plc
Xryma Plc, trading as ISX Financial, is a regulated banktech group providing cross-border open banking, international transactional banking, real-time EU and UK payment services and banking software licensed to third-party financial institutions. Authorised as an electronic money institution by the Central Bank of Cyprus in the EEA and by the Financial Conduct Authority in the UK, it is one of the first non-bank direct participants in the Eurosystem's T2 system, settling in central bank money. Its products include PaidBy Mastercard, ISX Money, MassPay, ISXPay, Paydentity and Probanx.
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